LH to Supply 3,009 Rental Housing Units in the Seoul Metropolitan Area This Month

Korea Land and Housing Corporation (LH) announced on December 2 that it will supply 3,009 rental housing units for homeless low-income residents, including young people and newlywed couples, in the Seoul metropolitan area by the end of the year.

Of these, 1,917 units are purchase rental housing and 1,092 units are newly constructed rental housing. On December 18, an integrated announcement for purchase rental housing targeting young people and newlywed or newborn households will be released. After a qualification screening process, residents may be able to move in as early as March next year. In Seoul, housing will be supplied in 22 out of 25 districts. By type, there are 729 units for young people (including dormitory-style housing) and 1,188 units for newlywed or newborn households. This year, the average competition rate for purchase rental housing for young people was 52 to 1, and for newlywed or newborn households, it was 7 to 1.

A view of Letenbyte Rimaje in Dongdaemun-gu, supplied as newlywed newborn purchase rental housing this month. Provided by Korea Land and Housing Corporation

The purchase rental housing for young people is available to unmarried, homeless individuals aged 19 to 39, including college students and job seekers. The rent is set at 40 to 50 percent of the local market rate, and tenants can reside for up to 10 years (or up to 20 years if they get married after moving in). The purchase rental housing for newlywed or newborn households targets couples married within the past seven years and households with newborns, with eligibility categories based on income and asset criteria. Applications can be submitted through LH Cheongyak Plus for three days starting December 29, following the recruitment announcement.

The newly constructed rental housing includes 472 permanent rental units at Yangju Hoecheon A-25 and 620 integrated public rental units at Icheon Janghowon. Applications for the Yangju Hoecheon permanent rental units can be submitted at the local administrative welfare center in Yangju for five days starting December 15. For the Icheon integrated public rental units, applications can be submitted through LH Cheongyak Plus and on-site reception desks for three days starting January 13 next year, following the recruitment announcement on December 29.